Almost every millionaire in America has these 5 things. Here’s what it takes to get them all.


Affluent family in driveway in front of nice house.
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The average net worth among U.S. households in 2022 was $1,063,700, according to the Federal Reserve. However, the median net worth was only $192,900, suggesting that most Americans are not that close to being millionaires.

That being said, millionaires tend to have similar money habits to everyday Americans that helped them get to where they are today.

For example, they usually avoid spending their entire paycheck, invest money they aren’t using and create clear financial goals instead of leaving things to chance.

There are also certain things that millionaires tend to own — and some may surprise you.

Millionaires tend to own things that go up in value after you buy them. A good example is real estate.

Consider this: In the first quarter of 1995, the median U.S. home sold for $130,000. By the first quarter of 2025, the median jumped to  $416,900 — almost three and a half times as much. That’s a notable increase in value.

Good news for homeowners, but not so much for those looking to buy. If that’s you, it’s important to find an affordable mortgage rate for your means.

Another way to spend less on your home is by shopping around for home insurance providers. With OfficialHomeInsurance.com it takes just two minutes to comb through over 200 insurers, for free, and find the best deal in your area. The process can be done entirely online and can save you an average of $482.

Houses are a prime example of an asset that tends to appreciate in value over time. Cars tend to do the opposite, losing value the older they get.

This may be why a chunk of millionaires skip picking up the latest land rover, according to The Millionaire Next Door by Thomas J. Stanley. Buying a used vehicle instead of the latest model can lead to significant savings, from the purchase price to operating costs like insurance and maintenance. Spending less on cars is part of what allows people to grow their wealth. The trick is to then invest whatever you save, not spend it as fun money.

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